The first phase of the proposed project includes building 270 apartments, a 500-space parking garage and 17,000 square feet of retail and commercial space.

The company, which made a presentation today to the board of the Downtown Redevelopment Authority, said it has gotten a $43 million preliminary loan commitment from a regional bank, a $7.4 million commitment from a tax credit investor and $17.8 million in equity and other funding.